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EUR/USD pair initially tried to rally during the day on Wednesday, but turned back around to form a shooting star. This of course is a very negative sign, and we believe that the EUR/USD pair will continue to fall from here. It is probably only a matter of time before we see this market reach towards the 1.05 handle, and with that we like selling rallies and of course breakdowns below the bottom of the range. Quite frankly, we have no scenario in which we are willing to buy this pair at the moment as it has been beaten down so severely.

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